Thursday, September 15, 2011

Money Woes


As economic uncertainty continues to churn, many consumers report they are facing tough financial challenges. According to a survey by Harris Interactive for CouponCabin, 45% of U.S. adults said they feel less financially secure than they did one year ago, while 16% said they always worry about money. Adults with higher incomes are also feeling the economic pinch, as 39% with household incomes of more than $75,000 per year said they feel less financially secure than they did one year ago. A variety of different hurdles are contributing to financial insecurity. When asked why they don’t feel financially secure, respondents said:
 

Live paycheck to paycheck 59% Debt like student loans and car payments 32%
Underpaid at my current job 41% Credit card debt 26%
Unexpected expenses always pop up 40% The recent stock market ups and downs 21%
Can’t keep up with my bills 35% Amount owed on mortgage 16%  


Despite many money issues, 83% of adults said they feel they live within their means. However they believe many things are overpriced, including:


Fuel for my vehicle 80% Utilities 58%
Medical care 70% Communication (telephone, cell phone, etc.) 58%
Entertainment (cable, movies, etc.) 63% Education 41%
Food 59% Housing 37%